On Thursday evening, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her message rang true to many. It is one of the organizations where there exists grounded and generally reliable reporting – especially during crises such as the one taking place near a New Hampshire storage facility.
A Precarious Situation During a Business Tug-of-War
Yet the news network, now middle-aged, finds itself in a uncertain state as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Element: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of More Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could position CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome with this particular battle, the bigger problem persists.
“What we have now is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pawns in the latest corporate chess match.
